Yahoo Finance Global Basal Cell Carcinoma Market to Surpass US$ 11,458.3 Million by 2028, Says Coherent Market Insights (CMI)
SEATTLE, Dec. 07, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global basal cell carcinoma market is estimated to be valued at US$ 6,721.4 million in 2021 and is expected to exhibit a CAGR of 7.9% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Basal Cell Carcinoma Market:
Key trends in the market include product approval for treatment of basal cell carcinoma, which is expected to drive the market growth over the forecast period. For instance, in June 2020, Sun Pharmaceutical Industries Ltd, manufactures and markets pharmaceuticals for domestic and international distribution, announced that the U.S. Food and Drug Administration (FDA) had approved its two specialty medicines-ODOMZO (sonidegib) and LEVULAN KERASTICK (aminolevulinic acid HCl) + BLU-U from its dermatology portfolio. The company provides insights to the healthcare providers treating patients suffering from high risk for different types of cancers.
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Key Market Takeaways:
The global basal cell carcinoma market is expected to exhibit a CAGR of 7.9% during the forecast period, due to increasing geriatric population which is expected to drive the global basal cell carcinoma market over the forecast period. For instance, according to the World Health Organization (WHO), population aged 60 years and above is likely to rise from 900 million in 2015 to 2 billion in 2050 worldwide.
Among treatment type, surgical segment is estimated to hold a dominant position in the global basal cell carcinoma market in 2021, owing to increasing demand for efficient and quicker treatment methods which is done with the help of surgeries. For instance, according to the American Academy of Dermatology, it is estimated that 196,060 new cases of melanoma, 101,280 noninvasive (in situ), and 106,110 invasive, will be diagnosed in the U.S. in 2021.
On the basis of region, North America segment accounted for the largest market share in the global basal cell carcinoma market over the forecast period, due to increasing health care expenditure. For instance, according to data published in the Canadian Institute for Health Information, on November 4, 2021, Canada is expected to spend a new record of US$ 308 billion on healthcare in 2021. Moreover, new data from the Canadian Institute for Health Information (CIHI) shows that total expenditure on health is expected to have increased by over 12% between 2019 and 2020. This is triple the growth rate experienced from 2015 to 2019, which was steady at approximately 4% per year.
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Competitive Landscape:
Key players operating in the global basal cell carcinoma market include Merck & Co., Inc., Sun Pharmaceutical Industries Ltd., Novartis AG., Bausch & Lomb Incorporated., Allergan, Perrigo Company plc, Taro Pharmaceutical Industries Ltd., Provectus Biopharmaceuticals, Inc., F. Hoffmann-La Roche Ltd, Sanofi, and Mylan N.V.
Market segmentation:
Global Basal Cell Carcinoma Market, By Treatment Type :
Surgical
Surgical Excision
Electrodessication & Cutterage ED&C
Moh's Surgery
Cryosurgery
Drugs
Topical Treatment
Advanced Medication
Other
Others
Radiation Therapy
Photodynamic Therapy PDT
Laser Therapy
Global Basal Cell Carcinoma Market, By End User :
Hospitals
Specialty Clinics
Others
Global Basal Cell Carcinoma Market, By Region:
North America
By Country
U.S.
Canada
Latin America
By Country
Brazil
Mexico
Argentina
Rest of Latin America
Europe
By Country
Germany
U.K.
France
Italy
Spain
Russia
Rest of Europe
Asia Pacific
By Country
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
By Country
GCC
Israel
Rest of Middle East
Africa
By Region/Country
South Africa
Central Africa
North Africa
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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